Friday Memos

By Kelly Spors

- Answering calls from struggling auto dealers, the Small Business Administration announced today it will temporarily offer alternate size standards to qualify for its popular 7(a) loan program. Businesses with under $8.5 million in net worth and less than $3 million in net income the preceding two years will now have access until Sept. 30, 2010. The agency estimates that up to 70,000 additional businesses will now qualify for 7(a) loans. [SBA]

- The House of Representatives passed credit-card-reform legislation with new protections on consumer credit cards, including preventing arbitrary rate changes and double-cycle billing. It left out a proposal, however, that would have extended the protections to small-business credit cards. [BusinessWeek]

- A small Texas surgical-mask company scrambles to fill government orders amid swine-flu scare. [CNN]

- A glimmer of hope that businesses have passed the worst of the recession: Delinquent loans taken by small and medium-sized U.S. businesses seems to have peaked in March, according to PayNet Inc., which tracks the commercial lending market. [Reuters]

- Several new optimism surveys show small-business owners felt more confident about their business in April. But they still appear nervous about their financials: A Discover Financial Services survey found only 21% say they plan to increase spending over the next six months. [WSJ Real Time Economics]

- Should you choose a descriptive or made-up word as a business name? Here’s how to decide which is best for you. [SmallBizTrends]

- How small businesses can take precautions against swine flu. Ideas: Make sure employees wash dishes after use, keep lots of antibacterial soap on hand. [USA Today]
Any interesting or relevant small-business items we missed this week?

Comments (2 of 2)

There's a
moving and
delicate spirit
here, in my
mind, like
a pretty desire
in the light
of a young
dove.

Francesco Sinibaldi

3:43 pm May 1, 2009

Joel Libava wrote :

Hi Kelly,
I have noticed that a trending topic amongst small business owners has to do with the Swine Flu, and it's effects on the workplace. Eve. T, over at the MSNBC.com Small Business Blog, just wrote an article about this very topic.